2023-09-30 10:48:48
Faced with soaring interest rates and the inability of many households to take out a mortgage loan, the Minister of the Economy and Finance, Bruno Le Maire, is considering creating a loan at a subsidized rate. The latter would offer more attractive credit financing conditions than those on the market.
Indeed, the government is seeking to put in place defense mechanisms once morest skyrocketing interest rates. The aim of this approach is to allow as many households as possible to use property loans. It is in this context that the Minister of Economy and Finance, Bruno Le Maire, said he was in favor of the creation of a “ subsidized rate loan “. It must be said that the increase in the cost of credit has reached record levels, beyond what the most modest households can afford.
In detail, the average rates reached 4.06% over 20 years and 4.19% over 25 years. As a reminder, subsidized loans have been used in the past. Banks concluded agreements with the State which subsidized part of the cost of credit. Some local authorities have also established such schemes, notably Paris, with its “Paris Housing Loan 0%”, intended for first buyers of intramural property in the capital, and Toulouse, with the “Pass Accession Toulousain”, also reserved for first-time buyers.
What conditions must be met to benefit from the subsidized rate credit?
“I am announcing it to you, I am proposing that we create a loan at a subsidized rate”, announces the minister Parisian on Wednesday September 27. This loan would provide “ credit financing conditions more attractive than those of the market “, he clarified. “When rates are at 4%, shouldn’t we think regarding a more accessible rate for households? » he concluded. The Bercy tenant, however, did not provide further details regarding the conditions for granting this credit at a subsidized rate. He nevertheless indicated that such a loan might “be reserved for first-time buyers, or not, I am open to discussion”.
Furthermore, this new subsidized rate loan will certainly be subject to an income condition. A progressive calculation method would then be applied and the lower the household resources, the more substantial the State aid would be. Bruno Le Maire also indicated that “The main objective is to have a triggering effect for as many households as possible”. In any case, this new system must be harmonized with the zero-rate loan (PTZ), which the Ministry of Finance plans to reform by adjusting income thresholds.
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